Cristiano Ronaldo's Euro 2020 stunt costs Coca-Cola $5.2 billion
- 3 years ago
Coca-Cola has lost a staggering $5.2 billion after Cristiano Ronaldo's viral press conference stunt at Euro 2020.
Speaking to the media ahead of Portugal's opening clash with Hungary on Tuesday, Ronaldo didn't want a bar of two Coke bottles sitting on the desk in front of him.
Coca-Cola is the official sponsor of Euro 2020 and have placed two bottles in front of everyone speaking at press conferences.
But in a viral moment that has sent social media users into a frenzy, Ronaldo picked up the two Coca-Cola bottles and put them out of sight before holding up his water bottle and saying: "Drink water."
Coca-Cola probably wouldn't have been impressed by Ronaldo's actions, and even less so after taking a look at the stock market on Tuesday.
The company saw a staggering $5.2 billion (AU) wiped off its market value in the hours after Ronaldo's press conference.
According to The Athletic, Coca-Cola’s shares were worth $73.02 each before the press conference, but dropped to $71.85 afterwards.
That 1.6 per cent drop in value is worth the eye-watering total of $5.2 billion.
Coca-Cola released a statement after Ronaldo's presser, saying “everyone is entitled to their drink preferences” and everyone has different “tastes and needs”.
Cristiano Ronaldo’s wiped $4BILLION off Coca-Cola's market value after his press conference stunt.
— ZimViral🔥 (@ZimViral) June 15, 2021
Coca Cola’s shares were worth $56.1 , but by the time Ronaldo and his Portugal boss Fernando Santos left their seats at the press conference, shares had dropped to $55.2 each. https://t.co/WX0mAvSCBD pic.twitter.com/7rBEAJMncj
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